Interest on delayed excise payments now applies after a uniform three month period, at Board fixed rates until payment. Amendments standardize multiple payment windows to a three-month period from receipt of demand, disallowance communication, assessment order, or return filing. If a manufacturer or assessee fails to pay within three months, interest at the rate fixed by the Board under the Act is payable from the day after that period until payment. Where duty on account of excess receipt is not credited within three months, the assessee is entitled to interest at the Board-fixed rate from the day after that period until payment.
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Provisions expressly mentioned in the judgment/order text.
Interest on delayed excise payments now applies after a uniform three month period, at Board fixed rates until payment.
Amendments standardize multiple payment windows to a three-month period from receipt of demand, disallowance communication, assessment order, or return filing. If a manufacturer or assessee fails to pay within three months, interest at the rate fixed by the Board under the Act is payable from the day after that period until payment. Where duty on account of excess receipt is not credited within three months, the assessee is entitled to interest at the Board-fixed rate from the day after that period until payment.
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